Parent Only Financial Information

12 Months Ended

Sep. 30, 2014

Parent Only Financial Information [Abstract]

Note 18—Parent Only Financial Information

The following are the financial statements of the Company (Parent only) as of and for the years ended September 30, 2014 and 2013.

CONDENSED STATEMENTS OF FINANCIAL CONDITION

(In thousands)


	September 30,
	2014		2013
Assets
Cash and cash equivalents	$	398	$	844
Investment in Bank		21,775		20,318
ESOP loan receivable		1,487		1,509
Other assets		295		154
Total assets	$	23,955	$	22,825
Liabilities and stockholders’ equity
Other liabilities	$	79	$	90
Stockholders’ equity		23,876		22,735
Total liabilities and stockholders’ equity	$	23,955	$	22,825

CONDENSED STATEMENTS OF OPERATIONS

(In thousands)


	Years Ended September 30,
	2014		2013
Interest income	$	121	$	122
Equity in income of Bank		843		873
Provision for loan losses		0		72
Other non-interest expenses		435		92

Income before income tax (benefit)		529		831
Income tax (benefit)		(128)		(108)
Net income		657		939
Preferred stock dividends		90		33
Net income attributable to common shareholders	$	567	$	906

CONDENSED STATEMENTS OF CASH FLOWS

(In thousands)


	Years Ended September 30,
	2014		2013
Cash flows from operating activities:
Net income	$	657	$	939
Equity in (income) of Bank		(843)		(873)
Provision for loan losses		0		72
(Increase) decrease in other assets		(180)		91
Decrease in other liabilities		(12)		(279)
Net cash (used by) operating activities		(378)		(50)
Cash flows from investing activities:
Capital contribution to Bank		0		(1,455)
Net decrease in loan receivable		0		569
Decrease in ESOP loan receivable		22		21
Net cash provided by (used by) investing activities		22		(865)
Cash flows from financing activities
Proceeds of sale of preferred stock		0		1,455
Dividend on preferred stock		(90)		(33)
Net cash (used by) provided by financing activities		(90)		1,422
Net (decrease) increase in cash and cash equivalents		(446)		507
Cash and cash equivalents—beginning of period		844		337
Cash and cash equivalents—end of period	$	398	$	844

- Definition

The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document.

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